Redfin Co. (NASDAQ:RDFN) Receives Consensus Rating of “Hold” from Analysts

Shares of Redfin Co. (NASDAQ:RDFN – Get Rating) have earned an average recommendation of “Hold” from the sixteen analysts that are presently covering the company, MarketBeat Ratings reports. Two analysts have rated the stock with a sell recommendation and six have issued a hold recommendation on the company. The average 12 month price target among analysts that have covered the stock in the last year is $6.31.

A number of equities analysts have issued reports on the company. Citigroup assumed coverage on Redfin in a research report on Tuesday, December 13th. They set a “neutral” rating and a $5.00 price target on the stock. The Goldman Sachs Group lowered their price target on Redfin from $9.00 to $5.00 and set a “neutral” rating on the stock in a research report on Tuesday, October 18th. Oppenheimer downgraded Redfin from a “market perform” rating to an “underperform” rating in a research report on Monday, November 7th. Evercore ISI lowered their price target on Redfin to $5.00 in a research report on Tuesday, November 15th. Finally, Jefferies Financial Group decreased their target price on Redfin from $12.00 to $6.50 and set a “hold” rating on the stock in a research report on Thursday, October 6th.

Insider Activity at Redfin

In related news, insider Christian John Taubman sold 11,104 shares of the stock in a transaction that occurred on Monday, January 9th. The stock was sold at an average price of $4.99, for a total value of $55,408.96. Following the completion of the sale, the insider now owns 34,338 shares of the company’s stock, valued at $171,346.62. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 5.20% of the company’s stock.

Institutional Investors Weigh In On Redfin

Several hedge funds and other institutional investors have recently added to or reduced their stakes in RDFN. Geneos Wealth Management Inc. acquired a new stake in Redfin during the second quarter worth $25,000. Great West Life Assurance Co. Can acquired a new stake in Redfin during the third quarter worth $26,000. Coldstream Capital Management Inc. purchased a new position in shares of Redfin during the fourth quarter worth $56,000. Guggenheim Capital LLC purchased a new position in shares of Redfin during the third quarter worth $60,000. Finally, RFG Advisory LLC boosted its position in shares of Redfin by 18.3% during the third quarter. RFG Advisory LLC now owns 20,351 shares of the company’s stock worth $76,000 after buying an additional 3,150 shares during the period. Institutional investors and hedge funds own 81.81% of the company’s stock.

Redfin Stock Down 8.7 %

Shares of RDFN opened at $5.75 on Thursday. Redfin has a 52 week low of $3.08 and a 52 week high of $32.42. The company has a quick ratio of 1.43, a current ratio of 1.89 and a debt-to-equity ratio of 11.34. The company has a market capitalization of $625.31 million, a price-to-earnings ratio of -2.14 and a beta of 1.87. The stock’s 50-day moving average price is $4.98 and its 200-day moving average price is $6.65.

Redfin (NASDAQ:RDFN – Get Rating) last issued its earnings results on Wednesday, November 9th. The company reported ($0.83) EPS for the quarter, topping analysts’ consensus estimates of ($0.85) by $0.02. The firm had revenue of $600.52 million for the quarter, compared to the consensus estimate of $601.69 million. Redfin had a negative return on equity of 135.08% and a negative net margin of 11.69%. On average, sell-side analysts predict that Redfin will post -3.45 EPS for the current year.

Redfin Company Profile

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Redfin Corporation operates as a residential real estate brokerage company in the United States and Canada. The company operates an online real estate marketplace and provides real estate services, including assisting individuals in the purchase or sell of home. It also provides title and settlement services; originates and sells mortgages; and buys and sells homes.